Square Yards, an online real estate advisory platform which helps you in finding better deals for real-estate investments, has grabbed $6 million in a pre Series A round of funding from a set of Singapore and Hongkong based investors.
Irrespective of the currenty raised round, SquareYards estimates its valuation in the vicinity of $40 – $50 million. Those are impressive numbers, considering that the company has been operational for less than 2 years. It is now aiming at 15 per cent of India’s primary residential real estate market by the end of 2017.
Tanuj Shori, c0-founder of Square Yard, said,
Currently, we are in the process of creating our own e-commerce portal to assist the intelligent Indian investor, both foreign and domestic, about real estate in considerably less time. Our investors are extremely happy with our performance and we will be using the money to expand our business further in terms of our presence in newer geographies, using advance technologies.
In the first year of its operation, the company claims to have facilitated real estate transactions to the tune of USD 250 million Gross Market Value (GMV) for India, and USD 50 million GMV for Global Real Estate. Square Yards claims of revenues to the north of $5 Million from its first year of operations.
The company was founded in 2013 by Tanuj Shori and Kanika Gupta with an aim to be a game changer in the Real Estate market by bringing transparency into this highly opaque industry and educate investors with rich and in-depth analysis of market trends and investment opportunities.
It offers one-stop solution for all property related needs, from Residential Projects to Student Accommodations and from Hotel Projects to Factories and Mall Redevelopment. It is in the process of creating its own e-commerce portal that could help investor take real-estate investment related decisions decision in lesser time.
Square Yards currently operates in 5 countries around the globe, including UAE, Singapore, UK, Hong Kong and USA and 14 cities in India.